Chemring subsidiary wins $49.5m contract

29th Sep 2011 13:31

Chemring has announced that its US subsidiary, Non-Intrusive Inspection Technology (NIITEK), has been awarded a $49.5m contract from the US Army to supply spare parts for the Husky Mine Detection System ("HMDS"), in support of US peacekeeping operations around the world. Deliveries under the contract will be made over the period to March 2012.Dr David Price, chief executive of Chemring, said: "This contract will permit NIITEK to continue to provide critical parts for over 200 systems that the US Army and US Marine Corp have purchased to date. "HMDS has proven to be a vital component of the US military's mission to locate buried explosive hazards. The HMDS continues to contribute to the safety of US and coalition forces, and this contract will ensure operational availability of these critical systems."The share price fell 1.3% to 531p by 13:34.NR